Markets Make Modest Moves

- April 13th, 2018

Morning Market Breakdown, April 13: Continuing their modest pace from Thursday’s close, most major markets slowly inched forward Friday morning.

Simmering to close was the S&P/TSX Composite Index (INDEXTSI:OSPTX), which ended Thursday (April 12) at 15,269.27 with a modest 11.37-point boost.

The index made its best efforts to stay in the green on Friday (April 13) morning as it picked up 7.17 points to reach 15,276.44.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) finished the day at 782.37 with a 4.66-point gain. Continuing upwards, it rose 5.13 points to hit 787.5. Energy stocks were on the rise yesterday, with the group growing 0.5 percent as a whole. Imperial Oil (TSX:IMO) picked up 2.2 percent and Husky Energy (TSX:HSE) gained 1.5 percent.

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With seven of the TSX’s subgroups finishing in the green yesterday, the biggest gains to the index came from Shaw Communications (TSX:SJR.B), which rose 9.8 percent after the company had higher second-quarter profits than expected.

Finishing the day in green was the Dow Jones Industrial Average (INDEXDJX:.DJI), which picked up 293.6 points on Thursday to close at 24,483.05. Friday morning saw the Dow get a small boost as it picked up 34.92 points to reach 24,517.97.

The S&P 500 (INDEXSP:.INX) pushed forward on Thursday with a 21.8-point gain, closing the day at 2,663.99. It continued forward on Friday morning as it rose 5.92 points to reach 2,669.91.

Gains in technology, financial and basic materials stocks pushed Wall Street forward on Thursday, as companies like Boeing (NYSE:BA) and DowDuPont (NYSE:DWDP) saw increases of 3.09 and 2.69 percent, respectively.

Note: All numbers shown above were accurate as of 10:00 a.m. EST.

Daily metals

Gold continued to slide downwards on Thursday as it closed at US$1,341.90 per ounce. Friday morning saw the precious metal make gains to US$1,347.20. Silver tripped on the way to close on Thursday, as it fell to US$16.47 per ounce. It made steps in the right direction Friday morning as it reached US$16.64.

Copper settled on Thursday when it closed at US$3.07 per pound. The commodity shimmied upwards on Friday morning when it hit US$3.08.

Major miner news

  • Endeavour Silver (TSX:EDR,NYSE:EXK): The company has filed its final base shelf prospectus, which “enable[s] offerings of common shares, warrants, subscription receipts, debt and convertible debt securities or units of up to an aggregate initial offering price of CAD$150 million at any time during the period the prospectus is effective.” The prospectus will be effective for 25 months.
  • Hecla Mining (NYSE:HL): In an attempt to overturn its “bad actor” status in Montana, Hecla Mining appeared in court on Thursday. The label, given to Hecla for pollution issues tied to its CEO, has blocked the mining company from opening two new mines in Montana. The judge handling the case did not make an immediate ruling after the hearing.

Don’t forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

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